Bulmetal - Time to shine - 3m 2024

Bulmetal, Bulgaria's biggest metal packaging solutions provider, achieved an overall revenue growth of 10.5% y/y to BGN 21.4m in Q1'24, driven by the doubling of sales in the machine side of the business. Gross margin improved significantly from 14.5% in Q1 23 to 26.6% in Q1 24. EBITDA increased 10x to BGN 2.4m, and the company booked a net profit of BGN 90 against a BGN 2.4m loss for the same period last year.